Weekly Newsletter: June 20, 2020 - June 26, 2020



ELEVATOR BRIEF

This week the conversation of cannabis legalization intensified as lawmakers pushed harder for real action in the next year in hopes to make relations between police and vulnerable communities safer (legalize and decriminalize ✌🏾). This might go over well with Americans since a recent study claims that 7 out of 10 Americans believe smoking cannabis is morally acceptable (the other 3 people seem boring anyways 😴). Also, the creator of VeggieTales slammed the War on Drugs for causing racial injustices (woke artichoke 🥕). 

INDUSTRY SPOTLIGHT



PurePressure

Point7 is proud to work with PurePressure, a Denver-based solventless equipment manufacturer. They're premier rosin, ice water hash, and sift experts sell every piece of equipment needed for solventless extraction from A to Z. Contact a member of their team to learn more about solventless extraction and how it can help to elevate your cannabis operation Do you have news to share? Let us know and we'll consider you for an upcoming feature!

CANNABIS STOCKS


Major Cannabis Industry Stocks are down -2.34% for the day. Aurora Cannabis(NYSE:ACB) stock rallied after the Canadian marijuana producer on Tuesday said it would slash jobs and close operations at five facilities over the next two quarters. In more positive news, Liberty Health Sciences (CSE: LHS) Announces Record Revenue Increase in Fiscal Year 2020 Financial Results with a growth of 401%.


YAHOO | CANNABIS INDUSTRY STOCKS




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POLITICS


Virginia Black Lawmakers Push To Legalize Marijuana In Special Session This Summer


A new law decriminalizing possession of marijuana in Virginia is set to go into effectnext week, andthe state legislature’s black caucus is already pushing colleagues to go further by fully legalizing cannabisin an upcoming special session this summer.


“The Commonwealth is past the point for studies on policing and law enforcement—immediate action must be taken to eliminate law enforcement abuse, prevent and punish racist behaviors, weed out institutional discrimination, and increase accountability at all levels of law enforcement,” the Virginia Legislative Black Caucus (VLBC) said in a list of priorities it released on Wednesday.




>>> Washington State Drug Decriminalization Activists Shift Focus From Ballot To Legislature

>>> Lawmakers Slam Attorney General Over Improper Marijuana Investigations Alleged By Whistleblower

>>> Los Angeles proposes ‘major course change’ for cannabis business licensing, social equity

>>> Missouri Authorities Investigating Fraudulent Medical Marijuana Cards

FINANCE


Canopy Growth Analyst Sees Increasing Cannabis Market Share, Little Stock Upside


Canopy Growth Corp. (NYSE: CGC) shares traded higher on Tuesday after the company held a virtual meeting on Monday and reassured investors that the company is leading the cannabis group in three major long-term growth markets.

Canopy management said its long-term plan is to continue to focus on the Canadian market, the U.S. CBD market and the German market. The company’s total global addressable market is projected at $70 billion by 2023, and the U.S., Canada and Germany will account for 90% of that market.


>>> Initial closing of $61.5 Harvest-High Times cannabis retail deal completed

>>> Marijuana MSO Jushi buys Vireo grow facility in Pennsylvania for $37 million

>>> Cannabis Demand Remains Healthy Despite COVID-19 Challenges

>>> How Cannabis Businesses Can Secure Financing and Find Relief from COVID-19’s Economic Fallout


CANNABIS TRENDS


Seven Out Of Ten Americans Find Smoking Marijuana Morally Acceptable

Seven out of ten Americans believe that smoking marijuana is morally acceptable, according to a poll that tracks values and beliefs in the United States. Results of the poll that surveys American’s views on the moral acceptability of 21 different social issues were released this week by Gallup.


When asked about cannabis, 70% of the poll’s respondents said that “smoking marijuana” was morally acceptable, while 28% said it was morally wrong. The remaining 2% said that smoking marijuana was not a moral issue, it depends on the situation, or that they had no opinion.


>>> Study Suggests Women May Be More Sensitive To THC Than Men

>>> Denver, Colorado Releases Cannabis Business Equity Study

>>> COVID may slow down permitting process for cannabis business hopefuls

>>> Two researchers hope to use cannabis to 'temporarily close the doors' on coronavirus


MISCELLANEOUS


Creator Of Christian Children’s Show VeggieTales Slams Racial Injustices Of War On Drugs

The founder of the popular Christian-themed children’s show VeggieTales recently gave a thorough lecture on the role of the war on drugs in the racial injustices fueling protests across the country.

Phil Vischer, whose voice many could recognize as Bob the Tomato from the animated biblical series, hosted a 17-minute “Holy Post” video that examines the history of policies in the U.S. that have marginalized and disenfranchised black Americans.



>>> Netflix’s Patriot Act With Hasan Minhaj Takes On Cannabis Legalization

>>> Psychiatrist Explores Possible Benefits Of Treating PTSD With Ecstasy Or Cannabis

>>> Advocates Consider Covid-19 Pandemic Opportunity To Push To Legalize Cannabis In Spain

>>> Covid-19 and Black Lives Matter are reshaping America. How will cannabis retailers rebuild?

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